th-04112011The vulnerability of the EU to energy supply risks is a fact but this can be no more. If the most conservative data is taken into account in regard to the natural gas reserves discovered in the exclusive economic zone (EEZ) of Cyprus (and the Levantin Basin), for the first time ever in European energy history, the EU is guaranteed an uninterrupted supply of a traditional energy source.

What if a JV is structured with the EU? What if Cyprus and the EU set up a company together for the exploitation of the hydrocarbons in the Levantin Basin along with the participation of Israel, Lebanon, Egypt and Syria? Such a venture will minimize both sovereign and financial risks for all parties involved. It will secure both the source and the transit route that…

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